Business

Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks. These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here. These legislations assume significance in the wake of scam in the ...

The Indian rupee appreciated by 18 paise to 71.78 against the US dollar in early trade on Friday as gains in domestic equity market and weakening of the American currency vis-a-vis other currencies overseas strengthened investor sentiments. At the interbank foreign exchange the rupee opened at 71.80 then gained further ground and touched a high of 71.78, registering a rise ...

Headline inflation is bound to rise further to 5 per cent for November, but despite the pinch in price rise, the Reserve Bank will go for two consecutive rate cuts on growth concerns, a report said on Thursday. The consumer price inflation fastened to 4.62 per cent for October in official data released on Wednesday, resulting in concerns over RBI’s ...

Equity benchmark BSE Sensex tumbled 330 points on Friday as investors pressed the exit button after Moody’s cut India’s credit rating outlook citing growth concerns. Profit-booking following the recent record-setting run and unease over frothy valuations also took their toll, analysts said. Trading on a weak note though the day, the 30-share Sensex briefly turned positive to hit a fresh ...

Snapping its seven-session winning streak, equity benchmark BSE Sensex on Tuesday dropped 54 points as investors booked profits at higher levels. After swinging 413 points during the session, the 30-share Sensex settled 53.73 points, or 0.13 per cent, lower at 40,248.23. The index touched an intra-day low of 40,053.55 and a high of 40,466.55. The broader NSE Nifty too slipped ...

Yes Bank on Friday reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans. The private sector lender had posted a net profit of Rs 951.47 crore in the corresponding period of the previous fiscal. Sequentially, there was net profit of Rs 95.56 crore in the first quarter ended June ...

Market benchmark BSE Sensex surged over 293 points to hit its record intra-day high of 40,344.99 on Thursday led by rally in index heavyweights Infosys, SBI, HDFC Bank and TCS. After opening on a strong note, the 30-share index was trading 263.69 points, or 0.66 per cent, higher at 40,315.56 in morning session. The broader NSE Nifty too advanced 71.85 ...

Air India is looking to raise USD 819 million (over Rs 5,800 crore) to refinance existing bridge loans availed for six Boeing 787 and one Boeing 777 aircraft. The national carrier is yet to have long term financing facility for six B787 and B777-300ER, according to a tender document. Bids have been invited from banks, financial institutions for refinancing existing ...

Mirroring slowdown in the economy, pre-Diwali Dhanteras sale of gold and silver dipped by as much as 40 per cent as high prices and lower consumer spending hit demand. Dhanteras, considered the most auspicious day in Hindu calendar for buying items ranging from precious metals to utensils, was a muted affair in most markets across the country with traders complaining ...

The World Bank released its latest Doing Business Report(DBR, 2020) todayon24th October 2019. India has recorded a jump of 14 positions against its rank of 77 in 2019to be placed now at 63rdrank among 190 countries assessed by the World Bank. India’sleap of14 ranks in the Ease of Doing Business ranking is significant considering that there has been continuous improvement ...